How to Finance Used Cars with No Down Payment

Getting a loan for a new or used car in Windsor, ON can be a major undertaking. However, trying to finance used cars with no down payment is even a bigger challenge. It can be done though. We will discuss several ways that you might accomplish this task. Everything having to do with getting a loan of any kind as you well know has to do with your credit history. Getting a no down payment car loan on a used car will also have to do with the price of the car compared to its fair market value.

Credit History Issue

With nothing else being considered other than your credit history, you will usually need to have a pretty high score to get a no cash auto loan. You probably think with under 700 that you may not get this type of auto loan. That would all be true if you applied anywhere other than Ontario Cars On Credit where we finance people of all credit backgrounds.

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Price of the Car vs. Resale Value

When considering to give you a nothing down bad credit used car loan, most finance companies will take into consideration the price you are paying for the car and its resale value. They look at this because they will end up getting the car back if you default on your payments and they want to make sure that they do not get a car worth less money than is owed on it. But we want to increase your chances of getting a zero down payment used car loan, so we will work with you by assessing your credit score and financial situation in order to make sure that you find a vehicle that you like and can comfortably afford.

Other Zero down Options to Consider

If your credit rating is low, get a co-signer for the loan who has a superior credit rating. Look for a cheaper car if you are not able to get the zero down loan on the first car. Lower purchase prices may be easier to finance in this manner. Use your old car as a trade-in on the newer car. If its value is high enough you will not need to put any additional money down. Bad credit, poor credit, and no credit are not issues if you have no money down here at OntarioCarsOnCredit.com so apply today and see what our Windsor based car dealership is able to do for you.